Claims rush in as Mt Gox settlement deadline approaches

21 Oct, 2018
by David Robb
Claims rush in as Mt Gox settlement deadline approaches

The deadline for the filing of civil rehabilitation claims against Mt Gox is fast approaching. Many people are starting to panic, with some considering flights to Japan in order to get their applications in by October 22.

Mt Gox is currently liable to around 127,000 creditors. Users of the exchange first had to file for insolvency claims back in 2015, in the wake of the $500 million hack in February 2014.

The creditors were then asked to file again for a civil rehabilitation suit, just over a year ago. Since then, many no longer have access to logins or online accounts, and the process has become increasingly complicated, according to Coinnounce. Claimants can no longer email applications to the email address, and many are resorting to sending claims through the post or even travelling directly to the offices in order to meet the deadline.

Users of Kraken may have a chance to claim their own payouts directly through the exchange. According to a statement, Kraken is "working with the rehabilitation Trustee to provide payout support for Kraken clients. On October 5, 2018, Kraken executed a memorandum agreement with the rehabilitation Trustee regarding future support from Kraken. However, the details of Kraken’s support have not yet been determined."

Read more: Mt. Gox civil rehabilitation proceedings may halt US lawsuit against Mizuho Bank

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